ECCB 2016/2017 Annual Report

ECCB ANNUAL REPORT 2016/2017

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Total Equity decreased by $20.6 million (8.5 per cent), principally due to a decline of $39.5 million (179.06 per cent) in the market value of foreign investment securities as theUS Treasurymarket weakened over the financial year. The effect of the decline was moderated by an increase of $12.0 million (83.24 per cent) in the Pension Fund Reserve due to the recording of actuarial

gains on the Bank’s Defined Benefit Pension Fund in accordance with International Financial Reporting Standards. Additionally, the General Reserve rose by $6.2 million (5.95 per cent) due to the allocation from net profit in accordance with the ECCB Agreement Act 1983 – Article 6(3).

Chart VI - Total Liabilities and Equity (EC$’000)